Nifco : Summary of Consolidated Financial Results for the Nine Months of Fiscal Year Ending March 31, 2020 -Highlight-

(The percentages denote year-on-yearchange.)

Corporate Name: Nifco Inc. (URL: https://www.nifco.com/en/)	February 3, 2020
Stock Exchange: TSE 1st section; Code Number: 7988
President & CEO: Toshiyuki Yamamoto
Inquiries to: Junji Honda, Executive Managing Officer & CFO ([phone])
Shihanki-Hokokusho to be submitted on: February 12, 2020

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Summary of Consolidated Financial Results

for the Nine Months of Fiscal Year Ending March 31, 2020

(These figures are rounded down to the nearest million yen.)

1. Consolidated Financial Results for Nine Months of FY2019 (April 1 to December 31, 2019)

(1) Consolidated financial results

		Net sales	Operating profit		Ordinary profit
		Million yen	%	Million yen		%	Million yen		%
9 Months FY2019	214,131	1.1	22,507		0.9	22,316		-0.6
9 Months FY2018	211,897	6.6	22,297		-3.5	22,459		-4.3
Note:	Comprehensive income:	9,872 million yen in 9 Months FY2019 (-31.7%),	14,450 million yen in 9 Months FY2018 (-23%)
		Profit attributable to	Profit attributable to owners of	Diluted profit attributable to
		owners of parent	parent per share		owners of parent per share
		Million yen	%	Yen		Yen
9 Months FY2019	15,116	-11.5			146.64			141.34
9 Months FY2018	17,077	5.5			164.19			158.31

(2) Consolidated financial position

			Total assets	Net assets	Net assets ratio		Net assets per share
			Million yen	Million yen	%		Yen
Third Qtr. FY2019		291,659	163,157	55.3		1,565.85
FY2018			284,842	160,690	55.7		1,538.96
Reference:	Equity	capital:	161,279 million yen in Third Qtr.FY2019,	158,787 million yen in FY2018

2. Dividends

				Dividend per share
	At end of first		At end of second	At end of third		At end of FY		FY
	quarter		quarter	quarter
	Yen		Yen	Yen		Yen		Yen
FY2018		―	31.00	―	31.00	62.00
FY2019		―	31.00	―
FY2019 (forecast)					31.00	62.00
Note: Revision of	the latest forecast of cash dividends: None

3. Forecasts for FY2019 (April 1, 2019 to March 31, 2020)	(The percentages denote year-on-year change.)
		Net sales		Operating profit	Ordinary profit	Profit attributable to	Profit attributable
			to owners of
			owners of parent
									parent per share
		Million		%	Million	%	Million	%	Million	%	Yen
		yen		yen	yen	yen
FY2019		290,000		0.4	29,200	1.3	28,800	0.1	19,700	-5.1	191.10
Note:	Revision of the latest forecasts: Yes

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4. Others

1. Changes in principal subsidiaries during the fiscal year (changes in specific subsidiaries, which involve changes in the scope of consolidation): Yes

New consolidation： －company

(company name)： －

Exclusion： 1 company

(company name )：Nifco KTS GmbH

Note: There was an absorption-type merger on July 31, 2019 whereby 100% owned subsidiary Nifco KTS GmbH was absorbed by 100% owned subsidiary Nifco KTW GmbH (current Nifco Germany GmbH) which is the surviving company. As a result of this merger, Nifco KTS GmbH was excluded from specific subsidiaries.

1. Adoption of specific accounting policies for quarterly consolidated financial statement: Yes
2. Changes in the principles and procedures of accounting concerning the preparation of consolidated financial statements and in the

methods of presentation, etc. (stated in "Changes in Significant Accounting Policies for Preparing Consolidated Financial Statements")

1)	Changes following the revision of accounting standards, etc.:	Yes
2)	Changes other than 1):	None
3)	Changes in accounting estimates:	None
4)	Retrospective restatement:	None

1. Number of shares outstanding (common stocks)
2. 1. Number of shares outstanding at end of the period (including treasury stocks): 107,508,954 in Third Qtr. FY2019; 107,508,954 in FY2018.
   2. Number of treasury stocks at end of the period: 4,510,859 in Third Qtr. FY2019; 4,330,549 in FY2018.
   3. Average number of shares outstanding during the period: 103,088,076 in Third Qtr. FY2019; 104,009,308 in Third Qtr. FY2018.

*Quarterly financial results reports are exempt from quarterly review conducted by certificated public accountants or an audit corporation.

• Proper use of forecasts and other special instructions

Forward-looking statements or projections included in this document, including earnings projections, are based on currently available information and certain premises that are judged to be rational at the time of this writing. Actual results may differ greatly from the forecast figures depending on various factors.

(Consolidated Financial Statements)

Segment Information
[Business segment information]
- For the Nine Months of FY2018 (April 1 to December 31, 2018)			(Unit: Millions of yen)
	Reportable segments				Elimination
	Industrial plastic						Consolidated
	Bedding &			Others	Total	& corporate
	parts &		Total	figures
	furniture				expenses
	components
Net sales and segment profit (loss)
Net sales
(1) Sales to customers	193,215	18,584		211,799	97	211,897	-	211,897
(2) Inter-segment sales	48	-		48	227	276	(276)	-
Total	193,263	18,584		211,848	325	212,173	(276)	211,897
Segment profit (loss)	23,703	2,841		26,544	123	26,667	(4,370)	22,297

- For the Nine Months of FY2019 (April 1 to December 31, 2019)			(Unit: Millions of yen)
	Reportable segments				Elimination
	Industrial plastic						Consolidated
	Bedding &			Others	Total	& corporate
	parts &		Total	figures
	furniture				expenses
	components
Net sales and segment profit (loss)
Net sales
(1) Sales to customers	194,457	19,571		214,029	101	214,131	-	214,131
(2) Inter-segment sales	60	-		60	205	266	(266)	-
Total	194,518	19,571		214,089	307	214,397	(266)	214,131
Segment profit (loss)	23,373	3,043		26,417	76	26,493	(3,986)	22,507

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